Vice President Zeng Qinghong said yesterday that Hong Kong and Macao can play a valuable role in the country’s master plan for the development of the northeastern provinces.

“Prospects for mainland-Hong Kong cooperation will be bright,” he said. Zeng was speaking at a reception for a high-profile joint delegation from the two special administrative regions. The group will tour the northeast--the base of heavy industry--in the next seven days to look for investment opportunities.

A number of other senior central government officials were also present at the reception, including State Councilor Tang Jiaxuan; Director of the State Council’s Hong Kong and Macao Office Liao Hui; Head of the United Front Work Department Liu Yandong; and Vice Minister for Commerce An Min.

Led by Liao, the delegation comprises more than 50 members, all leading business people and professionals of the two SARs. Many are the chairpersons or chief executives of listed companies in Hong Kong.

Zeng, who is also in charge of Hong Kong and Macao affairs, told the delegates that economic development would continue to top the agenda of the SARs and the mainland.

He said the country would spare no effort in developing the region’s economy during the next 20 years, and called on business leaders in Hong Kong and Macao to seize the opportunities.

Upon their arrival in Beijing, Hong Kong Financial Secretary Henry Tang noted that Hong Kong has the biggest investment in the northeast region of all non-mainland investors.

Although Hong Kong does not have much heavy industry, which is the key feature of the northeast region, it is not short of knowledgeable investors in businesses such as aluminum and auto making, Tang said.

“Through this tour, members of the delegation will be able to understand better the local investment environment and get acquainted with mainland officials. This understanding and these connections will be valuable in helping them make business decisions in the future,” he said.

He said the Hong Kong government would continue to play the role of a facilitator and let the market be driven by market players.

Casino mogul Stanley Ho said he came with a serious interest in investing in the region. Reports indicate that he hopes to establish HK$1-billion entertainment empire in Harbin, capital of Heilongjiang Province.

The delegation will visit 11 enterprises, including car manufacturers, machine makers and pharmaceutical plants in the region.

(China Daily June 7, 2004)